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9/8/2010 10:56AM

Europe's Troubles Don't Spark Fear

Europe still has more than its fair share of problems, but that's not holding back the stock market today, Michael Casey, George Stahl and Paul Vigna report. Instead, investors seem confident enough with the government backstops already in place that they're turning to single-stock stories like Apple and Oracle.

This transcript has been automatically generated and may not be 100% accurate.

... and ... U S stock market worried about Europe and a better than in the problem when a way ... to the market of mine called beanie along with Mike ... and George stall ... the album Michael start with you ... lot in common an easier ride in Ireland and on the Anglo Irish Bank ... some wheat germ and Dana Portola on alternate payout to get them to move them on ... and no one seemed to really can't have a confession costs and a good sign I mean we we ... actually stop was happening ... few months back these things kindness of ... the shocks to the market ... we would go to contagion is the image send us what was so U S stocks fall it's also one so the euro for businesses to Nepal in Europe is to be infected rival ... sharp real now won eighteen with what we would cut down one ninety nine an hour for one three seventy one factor stabilizing muscles affiliates the on this the ... mounting consensus for a network while Spectra was ... that I think that that's possibly a sign that people feel like Mackay ... yes Europe has its use of these islands really going to be caught with Anglo Irish Bank ... now having hit Dublin on bank episode restructure someone ... again and again this ... time around it it is ... is in loan guarantees Egan be big trumpet are ... insolvent that that that doesn't mean that the rest of Europe is necessarily to be ... rolled into least that's the Mockus reading I was right this month ... much of this has to do with what the government of already done ... to it some dimension to the rest of the entity that has to be some sense it is now backed up because the severe unsigned Pendock with the ... dairy indulgence and trillion dollar ... fund was with the healthy on the swell was in a backstop ... sovereign debt the ECB very reluctantly came in and simple not bonuses still hasn't ... won one asset that is reacting to this another way ... cool ... I ... mean a lot of ... golf balls jaw hit a new settlement high yesterday as the stewards did today I'm has come off a little that today's economy but not to think of gold as the son of the ... most pessimistic you keep getting in the city was inflation it would cost in the flesh naphtha what is Google is the severe debt troubles come fix the problems that they think it's a site ... that the ... stocks they don't care REIT year from today we will rally yet to lead to more and more internally focused to ... buy the book as a specific stories was like this can have on today's Apple they had and research it became absent this the momentum in the eye pads ... always good news for Apple ... I don't ... think a matter of months ... exactly ... but a bit but they're start to see that it started takes on some energy away from that book so ... some people aren't are looking at the at the AIPAC ... then again there are some of the cookies this is like Oracle which cannot sporting said how much of paying heard ... that in a wok Terengganu president of the top from each venue ... The on nine hundred fifty thousand is an annual salary with potential making bonus of ten million ... I'm not that much ... the sharp ... losses in ... right now and I did still falls short of what Ellison in which a seventy million dollars ... then you know it was no action as it would be the inferno is an update today for now that's all time half or keep an eye eleven hundred on the SNP to his first season resistance come in that ... come back for PMC Simon on the news called ... for breaking news all day long stay logged on to dubious J dot com ... be ...